Newshound Guru Militia Man
Iraq is reported as the 9th largest buyer of gold in 2024. In 2023, they had 132 tons of gold. Now in 2024, they claim to have purchased 100 tons of gold. The sudden increase in gold purchases raises the question of where they obtained the funds for this significant acquisition. With gold prices at $2,500 an ounce, buying 100 tons is quite surprising. What does this mean for them? It indicates support for the value of their future real effective exchange rate.”
Newshound Guru Clare
Article: “To resolve the issue of banks “deprived of the dollar.” Al-Alaq will return to Washington soon”
Newshound Guru Samson
“Economist indicates ‘solution’ ‘will lower’ dollar exchange rate“
Intel Guru Frank26
The new lower notes and the updated exchange rate will have a profound impact on the Middle East and the world at large. The monetary reform is crucial and will serve as the catalyst for changing financial systems globally. As investors in the dinar, we have prepared multiple contingencies to weather this global financial transformation.
Newshound Guru Kaperoni
Article 1: “Is it time to remove the zeros?” Article 2: “Is Iraq heading towards printing new paper currency?” These articles discuss a LOP…Iraq is transitioning to digital currency and phasing out paper money over time.
Intel Guru RayRen98
[via Twitter/X] …Verified lower denom locations…Province 8 Baghdad, Province 11 Najaf, AND possibly Province 1 Duhok up near Turkey.
Guru Nader From The Mid East
Community comment: “Iraq is not a safe country.” Why? Is the United States a safe country? When you look at Chicago, Philadelphia, New York, and all that, do you think it’s safe? Fear is everywhere. Bad and good are everywhere… To tell you the truth, it’s safer in Iraq than in Chicago. Visit the country and then judge. You cannot judge just because you heard something on the news or somebody told you something. I was there two weeks ago. I’ve been going back and forth, and my kids have been going back and forth. Everybody’s been happy.
Intel Guru MarkZ
[via PDK] We have Al Alag, the Governor of the Central Bank of Iraq, currently in New York. He arrived overnight, and according to contacts at the Treasury, after a week of meetings with financial experts, there are rumors that he will have a brief visit to DC mid-week. It seems that there is more at play than just addressing the issues with 4 or 5 banks the Fed has concerns about regarding corruption. It appears that there is something significant occurring, which could have global implications. The presence of the delegation from the Central Bank of Iraq, including its Governor, indicates that there may be positive developments to look forward to.
Newshound Guru Militia Man
The article quote states that there is currently no urgent issue with cash liquidity. There’s no requirement to produce new currency. They have not made any changes so far. Approximately $50 million was spent on printing currency, and it did not involve the use of triple zero notes. There doesn’t seem to be a valid reason for this expense. It doesn’t make sense to spend $50 million on printing new currency while simultaneously destroying perfectly good currency.
Newshound Guru Clare
Article: “Iraq Ranks Ninth in Gold Purchases in 2024” Quote: “Iraq purchased 100 tons of gold this year, placing ninth among the top 10 countries in gold acquisitions. The interest in buying gold is increasing due to rising geopolitical tensions and economic fluctuations. The price of gold reached an all-time high of $2,531.75 per ounce after exceeding $2,500, amidst growing expectations of an interest rate cut by the Federal Reserve.”
Newshound Guru Samson
Article: “To resolve the issue of banks “deprived of the dollar”… Al-Alaq to Washington soon“
Intel Guru Frank26
Right now 1 dinar is not even one [U.S.] penny. It’s like 9/10 of a penny but soon 1 dinar will be equal to at least $1.00. Did I say it will paired? No…It will be equal to at least, they told you, $1.00. I got a feeling it might be $1.30 because they kept the exchange rate at 1310. Let’s see what happens…In country at least $1.00 in value, not 1 penny in value, will give you [Iraqi citizens] purchasing power…It’s different for you [The rest of the world]…you’re going to watch the float..
Intel Guru MarkZ
[Through PDK] Iraq shifts to profit sharing and new oil agreements. Although a few days old, their approach to their strategic alliances is shifting. If you invest in those enterprises, they are dispersing bits and pieces from continuous oil earnings. This indicates that they are seeking both inside and outside of the nation for very long term investments. This points for long term stability. I was informed that the RV depends on this leg really heavily. They will start to be a regional powerhouse and influencer.
Intel Guru Bruce
[via WiserNow] we learned about a few things about rates. I said that the contract rate on the dinar would be presented to you; it is just under hundo right now and should be there by the time we visit for adjustments.And indeed, the Dong has witnessed rises as well.The screen rates at the redemption centers are three times higher than the bank rate on the dinar and what you get on the dong will be roughly twice as much per dong at the redemption center. You guys will be quite happy at the redemption centers with the rates.We have been viewing what the rates are, thus I know it for a certainty.
